Around 1500 plants were found in a search of a building in Balmore Industrial Estate in Milton, in the north of Glasgow.
Strathclyde Police said two men, aged 23 and 42, were arrested in the raid at an industrial unit in Glentannar Road around 11am on Wednesday.
They were due to appear at Glasgow Sheriff Court yesterday.
Detective Sergeant Craig Semple said: "This is yet another significant recovery and illustrates once again our determination to rid our communities of drugs. Through intelligence gathering, we continue to deal with this issue and our actions no doubt cause considerable disruption to those involved."
The latest big-money seizure comes just a week after four people appeared in court in connection with a cannabis haul in a property in Bridge Street, in the Tradeston area of the city.
Thousands of cannabis plants with an estimated street value of £1.2m were found in a flat above a florist.
Lunh Viet Nguyen, 17, Thanh Van Vo, 16, Ha Nguyen, 20, and Naveed Ackrim, 50, were charged under the Misuse of Drugs Act 1971.
They made no plea or declaration at Glasgow Sheriff Court. Ackrim was bailed, while the other three were remanded in custody.
In August police found a massive stash of cannabis plants, worth more than £750,000, in Kirkintilloch.
Officers raided the property in Woodilee Trading Estate, on August 16, and discovered about 2500 cannabis plants growing in dozens of industrial containers.
Two men – a 39-year-old and a 40-year-old – were arrested in connection with the find.